Toyota raises profit forecast on disaster recovery
TOKYO - Toyota is reporting that quarterly profit slid 13.5 per cent but is confident enough in a recovery to raise its forecast for annual profit.
Toyota Motor Corp. reported Tuesday an 80.9 billion yen ($1.05 billion) profit for the October-December third quarter, down from 93.6 billion yen a year earlier.
Car production was hurt by the tsunami disaster in Japan and flooding in Thailand last year.
But underlining a recovery is on track, Toyota raised its fiscal year profit forecast to 200 billion yen ($2.6 billion) from an earlier 180 billion yen ($2.3 billion).
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- 68 %Winter tires are off tune-up has been done and I'm set to take on the hot season!
- I've been procrastinating getting my winter tires put off. This weekend, I promise!
- I'm daydreaming of warmer days and to protest winter, I'm driving my convertible.
- Excited, see you around!